Qantas is back in profit as its alliance with Emirates helped narrow losses at its international operations.
The airline made a net profit of $A6 million in the year ending 30 June, reversing a loss of $A244 million a year ago.
Earnings were also lifted by a settlement of $A125m received from Boeing after Qantas cancelled 787 orders.
Qantas said that losses at its international division, which has been a key area of concern in recent years, halved from a year earlier.
Chief executive Alan Joyce said the alliance with Emirates, which was announced in September last year, had helped it boost bookings to key markets.
Mr Joyce added that the airline is on track to achieve its target of making international operations profitable in the 2015 financial year.
Qantas shares jumped more than 9% in Sydney on THursday.
However, the BBC reports profits for domestic operations declined during the period. The division made a profit of $A365 million, down 21% from a year earlier.